Greece Golden Visa April 2024 Update

Are you considering applying for the Greece Golden Visa program? Recent updates to the program have introduced significant changes to investment requirements and important deadlines.

Increased Investment Thresholds Based on Location

The Greek government has implemented a tiered system for minimum investment amounts, making the required investment dependent on the property's location:

• High-Demand Areas: For properties in regions like Athens, Thessaloniki, Mykonos, Santorini, and certain islands with over 3,100 residents, the minimum investment has surged to €800,000.
• Other Areas: Elsewhere in Greece, the minimum investment is now €400,000, up from the previous threshold of €250,000.

New Property Requirements

Additional regulations have been introduced regarding the properties eligible for the Golden Visa:

• Minimum Property Size: The minimum property size to qualify for the Golden Visa has been set at 120 square meters.
• Single Property Purchase: Investors can now only purchase a single property to meet the Golden Visa investment criteria.

Rental Restrictions

If you plan to rent out your Golden Visa property, please note the following restrictions:

• Long-Term Contracts Only: Renting your property must be through long-term contracts.
• No Sub-Leasing or Short-Term Rentals: Sub-leasing and short-term rentals are prohibited under the Golden Visa program.

Crucial Deadline for Previous Requirements

To qualify for the Golden Visa program under the previous requirements (minimum €250,000 investment), you must meet specific deadlines:

• 10% Deposit Deadline: A 10% deposit on the property must be made by August 31, 2024.
• Full Payment Deadline: The remaining balance must be paid by December 31, 2024.

Failing to meet these deadlines will subject your application to the new, higher investment requirements.

It is essential to consider these recent changes and the impending deadline when exploring the Greece Golden Visa program.